{"id":12716,"date":"2024-03-26T16:41:26","date_gmt":"2024-03-26T11:11:26","guid":{"rendered":"https:\/\/bigbreakingwire.in\/bernstein-downgrades-tesla-to-underperform-slashes-price-target-to-120\/"},"modified":"2024-03-26T16:41:26","modified_gmt":"2024-03-26T11:11:26","slug":"bernstein-downgrades-tesla-to-underperform-slashes-price-target-to-120","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/bernstein-downgrades-tesla-to-underperform-slashes-price-target-to-120\/","title":{"rendered":"Bernstein Downgrades Tesla to &#8216;Underperform,&#8217; Slashes Price Target to $120"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p>Bernstein lowers Tesla&#8217;s stock price target to $120 from $150 and assigns an &#8216;Underperform&#8217; rating.<\/p>\n\n\n\n<p>The analyst remarks, &#8220;During the quarter-to-date, Tesla has encountered subdued demand in China\/Europe and limited production capacity for the US Model 3.&#8221;<\/p>\n\n\n\n<p>Additionally, Bernstein has revised down its delivery estimates. For the first quarter, projections have been decreased to 426,000 units from 490,000 (reflecting a 1% year-over-year increase), and for the entire year of 2024, to 1.98 million units from 2.12 million.<\/p>\n\n\n\n<p>This adjustment is more conservative when compared to consensus estimates of 468,000 for Q1 and 2.06 million for the entire year.<br><br>&#8220;We are also introducing an FY&#8217;25 EPS estimate of $2.22 (compared to consensus of $3.69). We are reducing our FY 24 GAAP EPS from $2.31 to $2.06 compared to consensus of $2.63.&#8221;<\/p>\n\n\n\n<p>&#8220;We observe that the consensus FY 24 earnings have decreased approximately 60% from around $6.53 in October 2022. Additionally, we are introducing a FY 25 forecast of 2.18 million units and EPS of $2.22, compared to a consensus of 2.41 million units and EPS of $3.69.&#8221;<br><br>&#8220;Despite the year-to-date underperformance of the stock, we find it challenging to identify a catalyst for TSLA. We anticipate modest growth in 2024 and 2025, which raises doubts about the company&#8217;s growth narrative.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bernstein lowers Tesla&#8217;s stock price target to $120 from $150 and assigns an &#8216;Underperform&#8217; rating. The analyst remarks, &#8220;During the quarter-to-date, Tesla has encountered subdued&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[65,618,616,619],"tags":[2383,81,1631,2811,112,2810],"class_list":["post-12716","post","type-post","status-publish","format-standard","hentry","category-bigbreakingnow","category-brokerage-reports","category-stock-in-news","category-stocks-in-news","tag-bernstein","tag-downgrade","tag-price-target","tag-revise","tag-tesla","tag-underperform","entry","rows"],"jetpack_publicize_connections":[],"modified_by":null,"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfgCxS-3j6","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/12716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/comments?post=12716"}],"version-history":[{"count":0,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/12716\/revisions"}],"wp:attachment":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media?parent=12716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/categories?post=12716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/tags?post=12716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}